Buy @ $0.53
This is the merged entity of Cityspring and KIT. Supposed to be Cityspring takover of KIT via new shares (2.106CIT-for-1KIT, followed by being renamed to KIT), with a couple of dividends (0.0293ct + 1.16ct) and a subsequent Private Placement @ $0.52 and a Preferential Share Offer 1-for-13 @ $0.515 for acquisition of an asset from Keppel. Today is the first day of trading for the Placement shares and I was waiting in anticipation for their profit taking.
At Projected DPU = 3.73ct, Yield = 7.038%, my target minimum. There's still a high chance of further profit taking by the Placees who'd gotten their shares at $0.52, possibly +1% comms => $0.525. My plan would be to accumulate more on any price weakness and hold for longer term dividend yield… 😀